Politics

Italian markets dance anew to Berlusconi discord

23 Aug 2017

Chased out of power in 2011, Silvio Berlusconi is spooking investors with talk of a parallel currency. The ex-PM’s plans look more like posturing than policy. His own finances wouldn’t obviously benefit from Italy leaving the euro. Yet Berlusconi remains too important to ignore.

Icahn and Trump both look bad in biofuels fight

21 Aug 2017

The investor wanted rules changed to help CVR Energy. The refiner he controls made bets aligned with that push. They backfired and Icahn resigned as the president’s adviser just ahead of a report detailing these alleged conflicts. Trump now seems to say there was no job to quit.

Economic nationalists still linger in White House

18 Aug 2017

Steve Bannon, who advocated protectionist, "America first" policies, is out. That's a plus for the economy. But other foes of trade and immigration continue to influence Donald Trump. The centrists’ fight waged by Gary Cohn and others will get easier but it’s not over.

Barcelona attack targets Spain’s strongest spot

18 Aug 2017

Tourism is a pillar of the recovering Spanish economy, making the deadly assault on Las Ramblas a strike on prosperity as well as people. But previous attacks elsewhere in Europe show confidence bounces back, and the domestic economy is more resilient than it has been for years.

Merkel matters less than her next coalition allies

18 Aug 2017

The German chancellor is poised to win a fourth term in September’s vote. However, Angela Merkel may well be forced to govern with a small majority in partnership with the Free Democrats. That party’s trenchant calls for even more austerity are bad news for Germany and Europe.

South Korea’s Moon, 100 days in, moves too slowly

18 Aug 2017

The president's bold plans to revitalise the economy are off to a slow start, even allowing for distractions from North Korea and Trump. Populist handouts to boost consumption are no substitute for reforming the family conglomerates that dilute the nation’s economic energy.

Viewsroom: Corporate America dumps CEO president

17 Aug 2017

Donald Trump’s inflammatory comments about white supremacists have lost him the support and advice of business leaders, leaving him increasingly isolated and ineffectual. Qatar’s stake in the LSE may prompt Saudi Aramco to shun the exchange for its IPO. Plus: M&A for the MAGA era.

Slim’s Movil win could dial up Mexico oil reform

17 Aug 2017

A court sided with the billionaire against government efforts to end his telecom dominance. That may persuade President Peña Nieto and his PRI party, already lagging in the polls for 2018 elections, to offer more sweeteners to keep his other landmark reform, on energy, pumping.

Gary Cohn faces worst career investment dilemma

17 Aug 2017

He steered Goldman Sachs during the financial crisis. Now he’s under pressure to abandon Trump. Remaining hurts his brand. He’s been a moderating influence on trade and point man on taxes. Losing his Wall Street savvy would be a blow to the White House - and the country.

Britain tries Trojan Horse trade tactic in Ireland

17 Aug 2017

The EU wants the Northern Ireland border issue resolved before the UK’s wider exit terms can be agreed. New proposals from London effectively couch Britain’s trade agenda in concern for the peace process. Having Dublin onside raises the chances of Britain getting what it wants.

Market shows faith in U.S. institutions, not Trump

16 Aug 2017

The president disbanded his advisory councils after a raft of CEOs quit. They are the latest to abandon a leader who has been defied by Congress, courts and the military. These bodies will be crucial in ensuring the nation’s stability. Investors so far appear confident they will.

U.S. blunt force ill-suited to NAFTA intricacies

16 Aug 2017

President Trump’s trade chief demanded changes to reduce the country’s trade deficit at the renegotiation kickoff. He also wants to speed up talks given upcoming elections. The America First tone fails to recognize that Canada and Mexico have leverage, and face pressure at home.

Hadas: A lesson for the Brexit mess from Obamacare

16 Aug 2017

The British vote to leave Europe and the vow by Republicans to cut back government health insurance were triumphs of dreams over reality. Facing the unpopular prospect of actually reducing benefits, the Americans blinked. The UK, with even worse choices, could do the same.

Tencent is biggest target in China cyber crackdown

16 Aug 2017

As Beijing's campaign to control content gathers pace, gaming giant Tencent, which delivered another set of strong quarterly results, is an easy target for censors. Its soaring market value, however, suggests investors have yet to factor in the risk to earnings.

What CEO would dare to join Trump now?

16 Aug 2017

The U.S. president reckons he can easily replace the bosses of Merck and Intel as advisers. Backlashes, though, put the likes of Pepsi and Campbell in awkward positions. His credibility-boosting executive brain-trusts are more likely to keep shrinking or disband than be rebuilt.

Pyongyang nudges Seoul onto Trump’s bad-boy list

15 Aug 2017

The U.S. president is unhappy with South Korea's softer approach to hostile North Korea, putting pressure on other disputes. America is scrutinizing its ally over currency manipulation and trade barriers. With China squeezing the economy, compromise would be advisable.

Exchange Podcast: Jason Furman

15 Aug 2017

There is almost nothing that the Trump administration is doing right on tax, trade, immigration, infrastructure, energy or regulatory policy. At least that's the view of economist Jason Furman who spent eight years working for the previous White House.

Cox: Qatar kerfuffle could tip Aramco to New York

15 Aug 2017

As the Saudi oil leviathan considers where to IPO, its skirmish alongside regional allies with its Gulf neighbor may play a role. Abu Dhabi punished banks in which Qatar is a big investor. For the LSE, Qatari capital may now be a source of anxiety rather than stability.

Washington has infrastructure backwards

15 Aug 2017

What’s needed to plug a $2 trln investment gap for U.S. airports, roads and such isn’t taxpayer cash. It’s the removal of hurdles to private financing and a change in the mindsets of authorities and consumers. There are good ideas to borrow from the likes of Canada and Australia.

Xi throws a bad Party for Hong Kong investors

15 Aug 2017

The Communist Party is tightening its grip on Chinese state-owned enterprises listed in Hong Kong. Beijing has usually set the agenda at SOEs anyway. But injecting yet more of President Xi's muddled market strategy into decision-making could cost investors.